Matthew Mulvihill and Brian Carroll, SVPs in the Industrial Group, represented KTR Capital in the lease. "The USPS has a property across the street that they use to service the airport with mail that comes in via air cargo," Mulvihill tells GlobeSt.com. "Since it's adjacent to their other facility (at 514 Express Center Dr.), it creates functionality in their operation." With the most recent expansion, USPS now occupies more than 300,000 sf in the O'Hare Express Center, in which tenants have direct access to the airfield without use of public roads. The building is at the southeast corner of the airport, near the northwest corner of Mannheim and Higgins roads.

"It's one of the few properties that's on airport land that's available to lease to outside companies," Mulvihill says. "They first needed the overflow space for the holiday season, but once they had the facility, they found other uses for it. There's not too much office or management personnel there, and it's more of a warehouse/distribution operation." The post office uses the site for mail forwarding, sorting and distribution.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.